In this article, financial expert Melissa shares the top 3 tips to improve your credit as it is very important in all aspects of your life. Even with really good credit, climbing to the next rank is crucial to major credit bureaus when looking for private loans, homes, or investment opportunities.
Always pay on time
This is the standard rule to improve your credit. Always pay on time. Melissa guides all her clients to stay on top of payments either by setting up a calendar reminder or enrolling in automatic payments. Melissa’s golden rule to make this possible is to only charge what you can afford every month and pay in full!
Stick to a budget
Budgeting is the best way to track your income and expenses, helping you figure out how much money you need to cover monthly expenses. According to Melissa, it keeps a check on spending too and that is something we all need in our life. Sticking to a budget helps you meet important financial goals and helps you avoid missing bill payments.
Stay well below your credit limits
Keeping your credit utilization low is better for your credit score. Melissa educates her clients and followers to pay off balances in full and on time while also making sure to stay well below the credit limit. Using a large portion of your credit limit can do a lot of damage. By reducing your reliance on credit, you can hold yourself back from carrying a high balance on your card.
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